US regional banks with Florida operations brace for hurricane fallout [Yahoo! Finance Canada]
Valley National Bancorp (VLY)
Last valley national bancorp earnings: 4/30 08:00 am
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valleynationalbank.com
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Source: Yahoo! Finance Canada
(Reuters) - Several regional lenders allocated loan-loss provisions in the third quarter to cover potential defaults by borrowers grappling with recent hurricanes, primarily in Florida, highlighting the risks extreme weather and climate change pose to banks. Two devastating hurricanes struck the Sunshine State in late September and early October, causing loss of life, damaging homes, public property, and power lines, and impacting millions living along the coastline. The financial sector is also feeling the impact, with regional lenders like Valley National Bancorp taking steps to mitigate potential losses. The bank, which has around $62 billion in assets and operates 230 branches nationwide, with 40 of them in Florida, set aside $8 million in reserves to mitigate Hurricane Helene's impact. "While not anticipated based on information currently available, Hurricane Milton and unexpected losses from Hurricane Helene could result in a significant increase to the current hurrican
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VLY
News
- Valley National Bank Announces the Retirement of President Thomas A. Iadanza [Yahoo! Finance]Yahoo! Finance
- Valley National Bank Announces the Retirement of President Thomas A. IadanzaGlobeNewswire
- Valley Bank Appoints Gail Castellano to Lead New Staten Island Banking Team [Yahoo! Finance]Yahoo! Finance
- Valley Bank Appoints Gail Castellano to Lead New Staten Island Banking TeamBusiness Wire
- Valley National Bancorp (NASDAQ: VLY) had its price target raised by analysts at Barclays PLC from $10.00 to $11.00. They now have an "equal weight" rating on the stock.MarketBeat
VLY
Earnings
- 10/24/24 - In-Line
VLY
Sec Filings
- 12/11/24 - Form 8-K
- 12/9/24 - Form 8-K
- 12/2/24 - Form 3
- VLY's page on the SEC website